The second-quarter sales of Medytox메디톡스, a local biopharmaceutical company, hit a record high, breaking the record for 10 consecutive quarters.
The company announced Monday that its sales in the April-June quarter totaled 47.5 billion won ($41.7 million), up 51 percent from the same period of last year. Operating profit grew 40 percent to 26.4 billion won, and net profit increased 29 percent to 20.5 billion won.
The third plant of Medytox, a state-of-the-art facility capable of producing raw and finished medicines for botulinum toxin, can make 600 billion won worth of products annually. In addition to the Korea Good Manufacturing Practice (KGMP) approval at the end of last year, the company has obtained approval to manufacture and sell 100 units of botulinum toxin A (export name: Neuronox).
"The rapid increase in the export of our flagship product Botulinum toxin A (export name: Neuronox) is very encouraging,” a company official said. "The future of global botulinum toxin and HA filler market is bright, and we expect the overseas market share of flagship products to expand.”
The expansion is expected to continue in the second half of the year as the third factory acquired domestic manufacturing and marketing authorization, and has started full-scale operation in June, he added.
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